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US stocks close mixed after Fed decision

IANS  |  New York 

US stocks closed mixed as investors shifted their focus from midterm elections to the central bank's monetary policy.

The on Thursday increased 10.92 points, or 0.04 per cent, to 26,191.22. The was down 7.06 points, or 0.25 per cent, to 2,806.83, reported.

The Index was down 39.87 points, or 0.53 per cent, to 7,530.88.

The central left the benchmark unchanged after a two-day meeting concluded on Thursday. It noted in a statement that "growth of business fixed investment has moderated from its rapid pace earlier in the year," but did not provide further details.

The Fed has already raised interest rates three times this year and the market largely expects another hike before the year-end.

Concerns about the pace of hikes led to market volatility last month.

The major stock indices had posted sharp gains following the US midterm elections. All three major indices jumped more than 2 per cent on Wednesday.

Investors were bullish following the election results as they believed that gridlock in would help the market.

They expected US Donald Trump's pro-business policies to continue and to provide a larger check on power with the Democrats taking control of the

--IANS

pgh/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 07:18 IST
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